Inbank selects Montonio to offer BNPL services in Estonia

By Gloria Methri

Inbank has entered an exclusive partnership with Montonio, a provider of checkout solutions in Estonia. The initial phase of the partnership will be rolled out in Estonia, with plans to expand to other markets.

Montonio is known for offering a range of payment and e-commerce services to its merchants, including payment initiation, card payments, pay later, and financing. These services empower merchants to seamlessly manage various e-commerce transactions and offer flexible financing to consumers. As of now, Inbank will exclusively provide BNPL and instalment payment services through Montonio’s checkout.

Piret Paulus, Inbank’s Head of Growth and Business Development and Member of the Board, said, “Inbank looks for solutions that make sense and we want to do things in a smart way. Instead of always building everything from scratch, we sometimes choose to work with highly competent partners. And vice versa – our strategic partners might not have the know-how in financing, but that’s where Inbank can step in and provide valuable support.”

He added, “Our current and potential partners have emphasized the need for a full checkout solution, and we have been on the lookout for a strategic partner who’s capable of delivering a top-notch solution. Montonio caught our attention with its high-quality and user-friendly platform for merchants. Their technological capabilities and user-friendly interface make them an excellent choice for providing a complete checkout solution with.”

Markus Lember, Montonio’s CEO and co-founder said, “Buy now, pay later options have transformed the way consumers shop, offering flexibility in 2024, this trend continues to grow, especially among younger shoppers who appreciate the ability to spread payments over time without incurring interest. This trend not only empowers consumers with more purchasing power but also urges retailers to integrate these options seamlessly into their payment systems.”